UNIVERSITY PARK, Pa. — During a special meeting today (June 23) held via telephone conference, the Penn State Board of Trustees approved a resolution to amend the University’s borrowing authority and a resolution approving Penn State Health’s acquisition of Holy Spirit Health System.
The amendment to the University’s borrowing authority will allow Penn State to borrow up to $250 million for working capital to help support University operations during the coronavirus pandemic.
The second resolution approves the acquisition of the Holy Spirit Health System from Geisinger. The intent to purchase Holy Spirit was announced in October 2019.
The transfer of ownership will include the Holy Spirit Hospital in Camp Hill, Pennsylvania, its affiliated outpatient practices and urgent care centers, and the Ortenzio Heart Center and West Shore EMS.